If I am eligible for the Employer Retirement Contribution (ERC), do I need to enroll in the 401(k) Plan to receive it?

You do not need to enroll in the 401(k) Plan to receive the ERC, but if you do not contribute to your 401(k), each pay period you miss the matching contribution from Smiths Group. Unless you are part of a legacy agreement, the Company will match 50% on the first 6% of your pre-tax contributions (to the IRS limit).  There is no “true-up” with the 401(k) Plan.

Effective 1/1/2024 this benefit is frozen to new hires and rehires.